Northern Shield Revisits Idefix Ni-Cu-PGE Project in Northern
Northern Shield Revisits Idefix Ni-Cu-PGE
Project in Northern Quebec
OTTAWA, ONTARIO
,
April 27, 2022
/CNW/ - Northern Shield Resources Inc. ("Northern Shield" or
the "Company") [TSX-V: NRN] is pleased to announce that the Company is evaluating several
initiatives to unlock value at the Company's 100% owned Idefix Ni-Cu-PGE Property ("Idefix or the
"Property) in northern
Quebec
. The initiatives being considered include an option or joint venture,
various divestiture models (subject to a retained NSR) and exploring the Property on its own.
The Property was last diamond drilled in 2013, intersecting reef-type and disseminated PGE
(platinum + palladium) sulphide mineralization. Mineralization is observed on surface and in drill core
over a strike length of about 5 kilometres. Grades in the drill core average approximately 0.25 g/t
PGE+Au over thicknesses ranging up to 60 metres. Interestingly, these grades are associated with
very low concentrations of sulphide minerals, averaging about 0.5% sulphide (mostly pyrrhotite and
chalcopyrite.) As a linear relationship between sulphide content and PGE grades has generally been
observed at Idefix, a ten-fold increase in sulphide content could bring a similar order of magnitude
increase in PGE grades. This is substantiated by a showing at the southern end of Idefix which
grades 1.4 g/t PGE+Au over 31 metres (
see
Company news release dated
October 10, 2013
) and
is associated with approximately 3% sulphide. Such concentrations of sulphides are far too low to be
detected from a VTEM airborne geophysical survey that was completed in 2016. However, this
survey did identify a 500 metre-long conductor adjacent to the above mentioned showing which could
represent an accumulation of massive or semi-massive sulphides.
"Idefix presents an exciting opportunity. There are very few intrusions in
North America
where one
can trace sulphide PGE mineralization for 5 kilometres and over widths of up to 60 metres. The
drilling in 2013 targeted high-grade reef-type PGE mineralization but additional disseminated
mineralization sits above the PGE reef. The concept of a large-tonnage disseminated deposit has
been somewhat overlooked and the emphasis should now be on seeing if pockets and zones of
slightly higher concentrations of disseminated PGE mineralization exist."
-
Ian Bliss
,
Northern Shield President and CEO
This press release was reviewed by
Christine Vaillancourt
, P. Geo., the Company's Chief Geologist
and a Qualified Person under National Instrument 43-101.
Forward-Looking Statements Advisory
This news release contains statements concerning the exploration plans, results and potential for
epithermal gold deposits, and other mineralization at the Company's Idefix Property , geological,
geophysical and geometrical analyses of the properties and comparisons of the properties to known
epithermal gold and magmatic Ni-Cu-PGE deposits and other expectations, plans, goals, objectives,
assumptions, information or statements about future, conditions, results of exploration or
performance that may constitute forward-looking statements or information under applicable
securities legislation. Such forward-looking statements or information are based on a number of
assumptions, which may prove to be incorrect.
Although Northern Shield believes that the expectations reflected in such forward-looking statements
or information are reasonable, undue reliance should not be placed on forward
looking statements
because Northern Shield can give no assurance that such expectations will prove to be correct.
Forward-looking statements or information are based on current expectations, estimates and
projections that involve a number of risks and uncertainties which could cause actual results to differ
materially from those anticipated by Northern Shield and described in the forward
looking statements
or information. These risks and uncertainties include, but are not limited to, risks associated with
geological, geometrical and geophysical interpretation and analysis, the ability of Northern Shield to
obtain financing, equipment, supplies and qualified personnel necessary to carry on exploration and
the general risks and uncertainties involved in mineral exploration and analysis.
The forward-looking statements or information contained in this news release are made as of the
date hereof and Northern Shield undertakes no obligation to update publicly or revise any
forward
looking statements or information, whether as a result of new information, future events or
otherwise, unless so required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
SOURCE
Northern Shield Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/April2022/27/c5912.html
%SEDAR: 00007505E
For further information:
Northern Shield Resources Inc., Ian Bliss, President and CEO, Tel.: (613)
232-0459, Fax: (613) 232-0760, [email protected]
CO: Northern Shield Resources Inc.
CNW 08:30e 27-APR-22